the use of first-order linear recurrence relations of the form u_o=a,u_{n+1}=RU_nwhere 𝑎 and 𝑅 are constants to model compound interest investments and loans, reducing balance depreciation of an asset over time, including the rule for the future value of the asset after 𝑛 depreciation periods, compound interest investments and debts
U1.AoS2.7
use a given recurrence relation to generate a sequence, deduce the explicit rule, n u from the recursion relation, tabulate, graph and evaluate the sequence
U1.AoS2.9
demonstrate the use of a recurrence relation to determine the linear depreciating value of an asset after 𝑛 time periods for the initial sequence
U1.AoS2.10
use a rule for the future value of a linear depreciating asset to solve practical problems
